What Is a Real Estate Mastermind Group?

A real estate mastermind group is peer-to-peer mentoring among agents and investors looking to share knowledge, strategies, and support. These mastermind agent groups of realtors and investors meet in person or online at specific periods to review trends, fix problems, or simply set goals. The synergy of the group, through their composite expertise and experience, maximizes both individual and group potential.

Mastermind groups are resourceful and different from the usual networking groups where members only exchange business cards and socialize. In a mastermind group, members commit to each other’s success by offering constructive feedback and sharing resources. Such synergy created in these groups can provide a breakthrough, which one would not get by working alone.

Be it increasing the knowledge base, solving specific problems, or seeking motivational fuel, real estate mastermind groups are game-changers for real estate careers.

How to Join Real Estate Mastermind Groups

A mastermind real estate group could be a giant step toward developing your professionalism and network. You can find real estate investing mastermind groups by doing a simple search on Google (or continue reading this article, which will give you a bunch of excellent mastermind group choices!) Find those of interest and research them the same way you would any other critical decision. 

The steps to joining a real estate mastermind include the following: 

• Research: Identify groups that align with your professional goals and interests. Look for groups with people who have similar levels of experience and expertise. 
• Apply: Most groups have an application process to ensure a good fit between the group’s objectives and your goals. This application process may be done by filling out a form, participating in an interview, or attending a trial meeting. Most online Facebook groups are free to join but may need group administrator approval before having access. 
• Attend: If accepted, regularly attend meetings or real estate conferences. The more active you are with the group, the more you gain from it. Some groups may have attendance policies.
• Contribute: Offer your knowledge and experience to others within the group to derive value from. The more you contribute, the more you will benefit from the members’ collective wisdom.

How Much Do Real Estate Masterminds Cost?

All the mastermind groups I have shortlisted are free and online via Facebook. Such groups will help agents get important resources and provide the ability to connect with others to share information from expert practitioners at no cost. 

Some other paid mastermind groups can grant advanced features, such as personal coaching and special member-only resources. However, free online groups will still deliver some of the value and support that help agents move their careers forward. The minimum cost for these free groups is your time and involvement, which are returned to you through knowledge networking and professional growth.

Benefits of Joining a Real Estate Mastermind Group

Joining a real estate masterminds group will enhance your career with a bundle of different benefits best suited for your professional growth and success. You’ll share a collaborative environment and have the opportunity to leverage the collective intelligence of participants in the groups. The key benefits of a real estate mastermind group are as follows: 

• Networking opportunities: Connect with like-minded professionals and expand your business network.
• Knowledge sharing: Gain insights and learn from the experiences of others in the industry.
• Accountability: Stay focused on your goals with the support and encouragement of group members.
• Motivation: Be inspired by the successes and strategies of your peers.
• Problem-solving: Find solutions to challenges through collective brainstorming and advice.
• Personal and professional growth: Continuously improve your skills and knowledge.
• Market insights: Stay updated on the latest industry trends and developments.
• Supportive community: Benefit from the encouragement and camaraderie from professionals who understand your challenges

The Close’s Favorite Mastermind Groups

The right mastermind realtor group is key to real estate professionals seeking valuable insight, support, and good networking. With so many options available, finding one that aligns with your goals and professional level is imperative. Therefore, we’ve pulled out a list of the top 10 masterminds real estate groups for you to start with. No two groups are alike, each having varying benefits and focus, so no matter what an agent is looking for to move their career forward, there will be at least one.

1. Real Estate Rockstar Agents

Year Founded: 2014
Group Membership: 47,246
Monthly Posts: Around 200
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? Yes

Real Estate Rockstar Agents is a dynamic community built for high-performance agents wanting to move their careers to the next level. The group shares advanced strategies, industry secrets, and innovative techniques on how to be the best within a particular market. Its culture of excellence and ambition makes it a perfect fit for those looking to learn from the best and constantly challenging themselves to improve their skill base.

2. Real Estate Memes & Videos

Year Founded: 2016
Group Membership: 52,077
Monthly Posts: Around 150
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? Yes

A unique mastermind group with an extremely unique blend of humor and education that refreshes your professional network is Real Estate Memes & Videos. The content provided is the most entertaining way to draw on industry trends, common challenges, and real estate tips. This group is an excellent place to keep yourself light-hearted while still learning from fellow agents.

3. LabCoat Agents

Year Founded: 2014
Group Membership: 165,704
Monthly Posts: Around 2,000
Private or Public: Private
Self-promotion Allowed? On approval of admins
Real Estate Agents Only? No

As one of the largest and most active real estate communities, LabCoat Agents offers a wealth of resources for agents at all levels. It’s known for highly detailed content regarding real estate matters, from marketing and technology to lead generation and personal development. With regular webinars, expert interviews, and collaborative discussions, LabCoat Agents is a must-join for those serious about excelling in real estate.

4. Empowering Women in Real Estate

Year Founded: 2014
Group Membership: 38,235
Monthly Posts: Around 170
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? No, lenders, title companies, and real estate support teams, too!

Founded by agent Karen W. Cooper, the mission of Empowering Women in Real Estate is to help and encourage women in real estate. This mastermind real estate group provides a safe space where women can empower each other through sharing experiences, struggles, and triumphs. By focusing on mentorship, networking, and personal development, the idea is to allow women to reach their potential within the real estate industry.

5. New Real Estate Agents Facebook Group

Year Founded: 2017
Group Membership: 76,655
Monthly Posts: Around 200
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? No, mortgage brokers, too!

The New Real Estate Agents Facebook Group is a great forum and support group for those entering the business. You can ask questions, ask for advice, or share personal experiences regarding entering the real estate business. This group would be a good fit for any new agent looking for mentorship, real-life practice tips, and motivation from people who recently walked a similar path.

6. Real Estate Mastermind

Year Founded: 2016
Group Membership: 304,243
Monthly Posts: Around 3,500
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? Yes

Join Real Estate Mastermind if you are seeking a high-level, peer-to-peer group. It’s the perfect group if you’re an experienced agent or industry leader ready to dive into advanced strategies and insights. This mastermind group consists of people who like to get things done, keep their members responsible, collaborate, and help set real estate goals. It is excellent for learning subtle skills and keeping updated on market trends.

7. Real Estate Happy Hour

Year Founded: 2015
Group Membership: 15,578Monthly Posts: Around 50
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? No, lenders can join, too.

The Real Estate Happy Hour mastermind group brings professional development into a social setting, allowing agents to network and discuss ideas in a relaxed atmosphere. Though it’s not the most active group on our list, it provides an opportunity for its membership base to discuss industry topics and best practices and offers relevant networking. It’s great for those looking to mix business with a sprinkle of humor while growing a professional network.

8. Facebook Ad Support Group for New Real Estate Agents

Year Founded: 2018
Group Membership: 30,419Monthly Posts: Around 10
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? Yes

While not a group you might actively participate in, The New Real Estate Agent Facebook Support Group is a place to become proficient in online ads. The group shares real and practical tips and advice on troubleshooting and success stories related to running Facebook ads. These resources are invaluable for agents leveraging social media marketing to generate leads and grow their businesses.

9. Real Estate Agents Referral Group

Year Founded: 2000
Group Membership: 11,062
Monthly Posts: Around 10Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? Yes

The Real Estate Agents Referral Group is a forum for exchanging referrals among agents nationwide. Members can grow their businesses through this group by networking with fellow agents around various other demographic areas. This forum is suitable for finding someone to partner with, sharing leads, and giving your clients superior service with a network of trusted professionals who can help take your business to the next level.

10. The Close Real Estate Community

Year Founded: 2019
Group Membership: 8,979Monthly Posts: 15
Private or Public: Private
Self-promotion Allowed? No
Real Estate Agents Only? No, it is open to other industry professionals, too.

The Close Real Estate Community is our specially curated group with top-level access to real estate industry insights, practical advice, and highly attainable community members. We bring forward collaboration in this environment that empowers members to share their experiences or ask for guidance from our team. Be it a seasoned agent or a new entry into the business, The Close Real Estate Community is equipped with the tools and support needed for agents to be successful in their chosen careers.

Frequently Asked Questions (FAQs)

Why join a real estate mastermind group?

How can I identify the right mastermind group that fits all my needs in real estate?

What do I get from participating in the mastermind group within Real Estate?

Bringing It All Together

The real estate mastermind groups are valuable because they provide a robust platform where agents can establish a faster and more tangible pace of personal and professional growth. Agents will access a helpful and friendly network of similar-minded career professionals who can offer valuable industry insights and actionable strategies to apply directly to their businesses. These groups present opportunities for continual learning, accountability, and motivation.

Do you belong to a mastermind group? Tell us which one and how it has helped you!

The post 10 Real Estate Mastermind Groups Every Agent Should Join Today appeared first on The Close.

1. Real Estate Agent

• Average salary: $90,506 per year
• Required skills: Communication, negotiation, persuasion, and market knowledge

Whenever you ask, “What can you do with a real estate license?” the most common career path is to become a real estate agent. You can do this full-time or as a part-time real estate agent. In this role, you’ll represent buyers and sellers as they navigate the real estate transaction process. 

• Buyer’s Agent: Accompany buyers on showings and provide counsel and advice through the property search, selection, negotiation, and contract process. You’ll also connect homebuyers with the necessary area professionals (like mortgage brokers, inspectors, appraisers, and more) to help them reach the finish line.
• Seller’s Agent: Offer counsel to sellers regarding the estimated value of their homes. You’ll also provide a listing strategy, including price, marketing, open houses, etc., and you’ll help them negotiate in the offer process—ultimately getting them at the closing table.

The requirements to become a real estate agent vary per state. Some states only require 40 hours of prelicensing education, while some need more than a hundred hours. Still unsure whether you want to help clients close deals? Read our article on the pros and cons of being a real estate agent.

2. Real Estate Managing Broker

• Average salary: $104,418 per year
• Required skills: Leadership, management, mentoring, knowledge of real estate laws and regulations

Real estate managing brokers wear many hats, but generally, they’re responsible for managing real estate agents. In this role, managing brokers advise agents and provide them with mentorship and professional development. Depending on the structure of a brokerage, they’re also responsible for various elements of office management.

To become a real estate broker, you must complete additional education requirements set by your state in addition to your prelicensing education. You’ll also need some experience and pass the broker’s licensing exam. Do you have what it takes to be a real estate managing broker? Do you want a leadership role at a brokerage? Read our article on the difference between an agent and a broker.

3. Real Estate Instructor

• Average salary: $63,144 per year
• Required skills: Communication, passion for teaching, in-depth knowledge of real estate principles and practices

Besides being an agent or broker, one of the jobs with a real estate license is as an instructor. Real estate instructors teach aspiring and seasoned agents prelicensing and continuing education courses. They cover real estate laws, transaction processes, and ethics to help students obtain and maintain their licenses. If you’re passionate about teaching and want to impart knowledge to aspiring real estate professionals, this job is for you.

Instructors use various teaching methods, including classroom lectures and interactive online discussions. Additionally, instructors must stay updated on real estate laws and market trends and quickly adapt to new real estate developments.

4. Real Estate Analyst

• Average salary: $86,818 per year
• Required skills: Market research, analytical, and data analysis

One technical job with a real estate license is as an analyst. Real estate analysts examine trends and interpret data to provide insights and recommendations for property investments, developments, and other transactions. In addition to observing market trends, they analyze property values and evaluate potential risks. They use all their findings to help clients make informed decisions about leasing, buying, selling, or developing properties.

If you love finance and economics and want to work as a real estate analyst, you must gain relevant experience in real estate firms or financial institutions. Staying informed about market trends and the economic climate would be best. 

5. Real Estate Writer

• Average salary: $81,001 per year
• Required skills: Excellent research, writing, search engine optimization (SEO) and keywords, and creativity

What can you do with a realtor license, you ask? Writing might be the right path if you want to create informative real estate pieces. Real estate writers produce many types of content, such as articles, market reports, strategy guides, copy, and property listing descriptions. If you want to be a real estate writer, prepare to write for various audiences, including home buyers, sellers, and other industry professionals. Some real estate writers can work freelance for brokerages, media organizations, or online real estate publications (like The Close!).

To succeed in this role, you must understand real estate terms and market trends to provide accurate information. Writers must also be adept at SEO techniques to boost their content’s readership and reach a broader audience.

6. Property Manager

• Average salary: $59,796 per year
• Required skills: Communication, financial management, problem-solving, and knowledge of landlord-tenant laws

Property managers handle the daily operations of various properties for owners. You can work for landlords, investors, or building owners by screening tenants, preparing lease agreements, showing properties, and collecting rent. As a property manager, you’ll ensure properties are well-maintained, meet safety standards, and address tenant concerns.

Property managers are also in charge of the financial aspects of these properties. They create budgets, set rental fees, monitor expenses, and report finances to owners. To become a property manager, you must have relevant experience in property management assistance or tenant relations. Some states require certifications like Certified Property Manager, Certified Apartment Leasing Professional, and Master Property Manager will boost your credentials.

For property managers seeking an efficient tool to help manage properties’ finances seamlessly, try TenantCloud. It provides features like online rent collection, tenant screening, and maintenance tracking.

7. Real Estate Coach

• Average salary: $40,970 per year
• Required skills: Leadership, communication, coaching, mentoring, motivational, and industry knowledge

Some other jobs that require a real estate license are as coaches and trainers. Real estate coaches mentor industry professionals to enhance their skills and grow their businesses. Coaches empower agents, brokers, and other real estate professionals by boosting their confidence and promoting career growth. They pinpoint areas where their clients need to improve, conduct one-on-one sessions and workshops, and give continuous feedback. 

Want to coach your fellow industry members? Start by developing your communication skills, managing clients, and producing training materials. Then, work towards marketing yourself, coaching a few clients, and staying updated on training techniques.

Once you work as a real estate coach, you can also be one of the best motivational speakers at industry events. Sharing your insights and success stories can inspire others and establish you as a thought leader in the industry. You may also write a book and create courses to reach a bigger audience and expand your network.

8. Real Estate Attorney

• Average salary: $140,845 per year
• Required skills: Real estate law expertise, legal research, analytical, attention to detail, logical reasoning, and problem-solving

A real estate lawyer manages the legal aspects of property transactions, helping clients navigate the complexities of leasing, buying, and selling. They prepare papers like leasing agreements, eviction notices, title documents, and mortgage contracts and perform title searches to confirm property ownership. Real estate attorneys address all legal concerns while representing tenants, buyers, and sellers.

If you want to be a real estate attorney, you’ll need a bachelor’s degree in pre-law, complete law school and earn a Juris Doctor degree, then pass your state’s bar exam. Lawyers can skip prelicensing education in some states to earn a real estate license. 

9. Home Inspector

• Average salary: $60,383 per year
• Required skills: Knowledge of building codes and attention to detail

Home inspectors assess properties to ensure they meet safety standards before the home sells. They thoroughly inspect a home’s structural elements, electrical systems, plumbing, and roofing, as well as heating, ventilation, and air conditioning (HVAC) systems. Home inspectors are detail-oriented as they identify faulty wiring, water leaks, or structural damages.

To become a home inspector, search for your state’s specific requirements. Typically, these include completing certain training hours and passing a certification exam. Additionally, joining organizations like the International Association of Certified Home Inspectors can offer more networking opportunities and continuing education.

10. Real Estate Investor

• Average salary: $86,796 per year
• Required skills: Market research and risk assessment

Real estate investors buy and sell properties to generate income. The process typically involves buying properties to rent out or renovating homes to sell at a higher price (aka flipping houses). Some investors also purchase land for future development. It takes so much courage to be a real estate investor. While the risk is very high, the potential rewards can be as significant. Always be prepared for market fluctuations, unexpected expenses, and property vacancies.

You may think you don’t need a real estate license to be an investor. While that may technically be true, you should still get a license to make real money doing it. When you’re an investor with a real estate license, you can represent yourself in the sale of your properties, saving you upward of 6% (the typical commission for residential real estate sales). In addition, you can also represent yourself in the purchase of real estate, allowing you to either pocket the commission or negotiate it off the top of the sales price.

Want to start learning about real estate investing? Read Kiavi’s insightful eBook on Flipping Houses 101:

11. Real Estate Appraiser

• Average salary: $61,060 per year
• Required skills: Market research, analytical, and knowledge of appraisal techniques

Real estate appraisers evaluate properties and assess their values before they are insured, mortgaged, or sold. They look into all variables that may impact a property’s value, such as past homeownership, renovations, and developments. If you’re considering working as an appraiser, you must know about local market trends and conditions to succeed. In addition to appraising properties, appraisers also update public records. They note any changes that may impact properties’ values.

To become an appraiser, you must complete real estate appraiser courses, work as a trainee, find a mentor to supervise you, and then pass your state’s appraiser licensing exam.

12. Real Estate Assistant

• Average salary: $45,545 per year
• Required skills: Administrative, communication, and organizational

Another answer to your “What can you do with a real estate license” question is to assist agents and brokers. Real estate assistants help manage the day-to-day operations of brokerages. They receive visitors at a brokerage, respond to emails, answer the phone, schedule appointments, and organize paperwork. If you want to work as an assistant for an agent or broker, your responsibilities will include coordinating property showings, handling client inquiries, and creating property listings. You’ll nail this role if you’re good at juggling multiple responsibilities.

13. Real Estate Content Creator

• Average salary: $47,000-$90,000 per year
• Required skills: Creativity, storytelling, social media, and video editing

Working as a content creator can be fun if you love creating various types of content and actively engaging with your audience. As a real estate content creator, you’ll produce high-quality social media content to attract new clients and retain existing ones. You’ll share your real estate insights, property listings, virtual house tours, and other relevant topics on your Instagram, Facebook, TikTok, and YouTube.

You can start by gathering social media post ideas for your platforms. Learn about the latest digital marketing strategies and analytics tools to know which types of content work best for your target audience. You can also partner with other real estate brands, software, or platforms and promote them on your page to earn extra income.

FAQs: What Can You Do With a Real Estate License

What skills are necessary to succeed in the real estate industry?

Is it possible to have side hustles in real estate?

What are the challenges of a career in real estate?

Which states do real estate agents make the most money in?

Bringing It All Together

You’re still probably asking, “What can I do with my real estate license?” Choosing the right real estate career takes many considerations. Assessing your skills, interests, and long-term goals is essential in finding a path that suits you best. I’m sure there are more jobs you can get with a real estate license besides the ones listed above. What did I miss? Please share them in the comments below!

The post 13 Jobs You Can Get With a Real Estate License appeared first on The Close.

The Close’s Top Picks for Best Real Estate Company to Work For

1. Redfin: Best Real Estate Company for Relocating to a New Market

Pros	Cons
Salary-based creates a stable income stream	Low salary and minimal transaction bonuses compared to independent agents
Access to medical/dental benefits package	Insufficient training for a new agent
Company-generated lead source	Less flexibility than traditional agents
All expenses covered, unlike independent agents	No opportunities to learn the many aspects of running a real estate business
Marketing done for you

Why I Chose Redfin

I can hear you gasp! How could I choose Redfin over other brokerages as the best real estate company to work for? But hear me out: Redfin’s model may not be right for you, but if you’ve ever weighed the pros and cons of being a real estate agent, then you know there are a lot of factors to consider that may make this business model a good fit for some agents, particularly a real estate agent who has to pick up and move to another market (I’m looking at you, military spouses—I know your pain!). Redfin might be the perfect transition solution for relocating agents.

You don’t have to have an established sphere of influence; you get leads fed to you, and you get a real estate agent salary (paltry, but not zero) to help you get established in your new market before you make a move to one of the other top real estate firms to work for on this list.

• Salaried positions with benefits: Agents can get their feet wet without having to sacrifice paying their bills or going without medical insurance.
• Strong online presence and lead generation: Redfin is a recognized name and excels at generating leads for its agents.

What I Think Would Improve Redfin

One of the things agents are expected to give up is flexibility. If agents had more control over their days, it might be better suited to more agents. According to reviews of the company, agents make a lot less than working the traditional route as independent contractors, even after covering their business expenses. Some agents might find another job they can do with their real estate license over working at Redfin.

2. Fathom Realty: Best Real Estate Company for Part-time Agents

Pros	Cons
Low monthly fees and low transaction fee	Limited in-person support and resources
Cap at 15 transactions, not a dollar amount	Less brand recognition compared with larger brokerages
Stock options offered as part of compensation	Agents responsible for generating their own leads
Training provided for agents
Cloud-based brokerage offering flexibility

Why I Chose Fathom Realty

Fathom Realty is smaller than many brokerages on this list, but it’s growing quickly. It focuses on innovation and leading-edge technology to help seasoned agents who thrive independently, which is especially helpful for agents who want to work part-time. It’s a cloud-based brokerage, tapping into the latest trends in real estate companies. Its agent focus pushes it into “The Best Real Estate Agency to Work for” category this year.

• 100% commission model with low fees: Instead of the traditional commission split, Fathom offers 100% commission with a transaction fee, leaving more money in the agent’s pocket.
• Stock options for agents: Earn stock in the company as bonuses for sales and referrals.

What I Think Would Improve Fathom Realty

The one area that could help Fathom Realty is adding lead generation support for its agents. When you sign up with Fathom, you get business cards and some real estate marketing materials, but most of the marketing and branding falls squarely on the shoulders of its agents. Fathom can invest in its own branding to help increase brand recognition and recruiting efforts, making it easier for agents to build their own teams.

3. eXp Realty: Best Real Estate Company for New Agents

Pros	Cons
Agent-centric, cloud-based model with low overhead	No brick-and-mortar office locations
Massive library of on-demand training materials + virtual live training	Limited in-person support and mentoring
Transparent commission structure that’s advantageous to all agents	Focus on recruiting may have tarnished its reputation
Revenue sharing and stock options for agents	Relies heavily on technology, which may have a learning curve
Equity sharing incentives	Some agents may find virtual environment less engaging

Why I Chose eXp Realty

Over the past few years, eXp has stood out as the first large-scale cloud-based brokerage, and it’s continued to innovate and stay competitive as one of the best real estate firms to work for. One area that really pops is eXp World, which is a virtual platform that includes classrooms, boardrooms, meeting spaces, and conference rooms.

• Cloud-based virtual brokerage: Agent-focus with virtual environments puts agents in the driver’s seat, giving them access to tools and resources on demand.
• Emphasis on agent support and training: There is a ton of available training, networking, and more in the virtual world, as well as in-person training.

What I Think Would Improve eXp Realty

With such a huge focus on leading-edge technology, one way eXp could improve is by spending more time educating agents in its onboarding process. For many agents, the tech alone is quite intimidating. By providing more localized support and resources, agents might have an easier time adjusting to the virtual environment.

4. Compass: Best Real Estate Company for Luxury Agents

Pros	Cons
High-end, unified branding and marketing; much of it done for you	Relatively exclusive; application process to become a Compass agent is difficult
Marketing and support tools offered to agents	No standard split or cap structure
Excellent reputation among high-net-worth homeowners	Rapid growth may lead to a lack of support, volatility, and instability
Technology is prioritized, especially with tools like its Likely to Sell lead program	Higher desk fees and other costs compared with some brokerages
Attractive commission splits and financial incentives	Some markets may be more competitive due to high concentrations of Compass agents

Why I Chose Compass

Compass has made a name for itself in the luxury real estate market, providing agents with the tools, support, and brand recognition needed to succeed in this competitive niche. By leveraging Compass’s cutting-edge technology, sophisticated branding and marketing strategies, and extensive network, agents can effectively navigate the unique challenges of luxury real estate.

• Excellent high-end branding: Agents will step into a fully recognized luxury name with stunning branding. 
• Fully integrated marketing platform: Technology drives the Compass company with tools for agents, including Likely to Sell, to generate and nurture leads as well as build a solid personal brand.

What I Think Would Improve Compass

One way for Compass to become more friendly for agents is to reduce its desk fees and other costs for joining its ranks. I’m not going to lie, Compass is not inexpensive, which gives it an air of exclusivity. However, it also raises the barrier to entry.

5. REAL Broker: Best Real Estate Company for AI-powered Technology

Pros	Cons
Agent-centric, cloud-based model	No brick-and-mortar office locations
Tech-forward and innovative tools for agents	Limited in-person support and mentoring
Transparent commission structure that’s advantageous for all agents	Less brand recognition than other brokerages
Five-tier revenue share plan attractive for recruiting
Generous equity share opportunities
Plenty of room for growth

Why I Chose REAL Broker

Previously, REAL was listed as an industry disruptor. And REAL is still disrupting the industry, but now it’s more of a serious player and begging other brokerages to follow its lead. It is known for being a huge AI-tech innovator in the real estate space. 

• Agent-centered 100% commission model: REAL is a cloud-based, 100% commission model that focuses on agents instead of the traditional brokerage model.
• Access to a wide range of technology tools: If you love all the latest tech in the real estate space, you’ll love the innovative feel of REAL Broker.

What I Think Would Improve REAL Broker

As cool as all the real estate tech is, it’s intimidating to a lot of agents. REAL could spend more time on comprehensive training and mentorship programs to help agents get started in their real estate business. For its more seasoned agents, offering additional incentives for high performance would help with retention in the long run.

6. lpt Realty: Best Real Estate Company for Building a Team

Pros	Cons
Flexibility in how you split commissions	No brick-and-mortar office locations
Custom marketing materials included with every listing	Limited in-person support and mentoring
Technology included free of charge, including website and CRM	Lot less brand recognition than other brokerages
Individual office branding encouraged	Not available in as many markets yet
Seven-level revenue share	Reliance on tech can be intimidating for many agents

Why I Chose lpt Realty

If you want to talk about disruptors, this year’s newest company in this category is LPT Realty, with its sleek custom marketing for every listing and the mortgage lender part of the company, making a lot of the agents’ lives smoother. It’s a tech-forward company, changing how agents think about real estate brokerages. This is one to keep your eye on, as it could beat out several others as the best real estate company to work for over the next year.

• Mortgage process automation: The owner of LPT Realty also owns a mortgage company and a title company, keeping things simple for agents and streamlining processes.
• AI-driven property insights: LPT Realty uses proprietary mobile-first technology to create data points to help agents target their marketing.

What I Think Would Improve lpt Realty

The biggest struggle for LPT Realty right now is name recognition and national-level branding. But considering it started only in February 2022, it’s on track to expand quickly. In the two and a half years since its inception, it has already expanded to 20 states with nearly 10,000 agents.

7. RE/MAX: Best Real Estate Company for Experienced Agents

Pros	Cons
Strong brand recognition and global presence	Higher franchise fees and desk fees compared with some brokerages
Various training and support resources offered to agents	Inconsistent support and resources across different offices
Flexible fee structures and commission splits available	Some markets are highly competitive and saturated with RE/MAX agents

Why I Chose RE/MAX

When it comes to the gigantor, a globally recognized brokerage, RE/MAX stands out as one of the longest-running and best real estate companies to work for. Seasoned agents can keep more of their commissions in their pockets and run their businesses however they want. 

• Comprehensive training programs: Agents can choose from an extensive selection of video or in-person training.
• Variety of franchise models and fee structures: RE/MAX follows the traditional franchise model, so each location offers its own fee and commission structure.

What I Think Would Improve RE/MAX

With a traditional franchise model like RE/MAX, you never know what you’re going to get when you meet the brokers. More standardization might help attract agents to the brokerage. Also, more innovation, tech tools, and resources to help its agents stay competitive could improve its retention.

Let’s Talk Boutique Brokerages 

I’ve talked about some big names in real estate and discussed their commitments to training, mentoring, branding, and financial incentives. But the truth is, a big, national brokerage may not be the best real estate brokerage for new agents—in fact, it often isn’t. Most well-known national brokerages are built on a franchise model, meaning every independent office differs. 

For example, while Keller Williams, as a company, values educating agents, your individual franchise office might not. How do you evaluate whether it’s one of the best real estate companies to work for when they’re all different?

I encourage every agent (whether looking for their first brokerage or wanting to switch companies) to consider a boutique brokerage in their local area. I happen to be a big fan of smaller shops, and here’s why:

1. Generally, your broker is personally invested in your success.
2. There’s potential for a lot more face time with the boss.
3. Smaller brokerages often feel like a team or even a family.
4. You generally have more control over your individual branding.
5. There is often an opportunity for better, or at least more individualized, support.
6. Often, local brokerages are heavily engaged in and striving to make a lasting impact on their communities. 
7. Boutique brokerages may have better reputations than their big-name competitors in their local communities.

In fact, I personally made the switch from a big-box brokerage to a boutique one and never looked back.

For me, switching to Spence Properties, an independent brokerage in Crestview, Florida, is the most impactful decision I have ever made for my real estate career, and my brokers are the best real estate brokers to work for. In my smaller brokerage, I have directly tapped into the vast knowledge, skills, and experience of my broker and broker associates. They provided the mentorship I sought, and my fabulous brokers made my meteoric rise to real estate success possible. I love my small brokerage and wouldn’t trade it for anything.

When I was considering making the switch, I considered these the most important qualities for finding the best fit for me and my budding real estate career:

• Culture
• Training and Mentorship
• Technology 
• Resources and Support

In the end, I chose a brokerage where I felt inspired, supported, and welcomed. Find a brokerage that fits your personality, your goals, and your needs.

FAQs

What is the best real estate brokerage for beginners?

What are the most important questions to ask in a broker interview?

What percentage do most brokers take from new agents?

What should I expect as a new real estate agent?

How important is technology, marketing, and lead generation?

Methodology: How I Chose the Best Real Estate Companies to Work For

When evaluating the best real estate companies, I used a comprehensive rubric to assess key elements essential for agent success and satisfaction. The rubric includes factors such as commission splits, fees, profit and revenue sharing opportunities, technology tools, marketing support, lead generation resources, training and mentorship programs, and overall company culture.

My goal is to highlight real estate companies that offer the most advantageous commission structures, minimal fees, and opportunities for additional income through profit and revenue sharing. I also emphasized the quality and scale of technology tools, marketing support, and lead generation resources—tools critical for agents to succeed in today’s competitive market.

I also recognize the importance of professional development and growth opportunities, assessing each company’s training and mentorship programs. A supportive company culture that provides collaboration, innovation, and work-life balance is essential for agent satisfaction, retention, and long-term success.

Throughout this comprehensive evaluation process, I identified standout real estate companies in several categories providing the best overall package for agents, offering multiple financial benefits, cutting-edge tech tools, robust support systems, and a nurturing work environment. My goal is to provide a valuable resource for real estate professionals seeking a company that aligns with their goals and empowers them to thrive in their careers.

Your Take

Deciding which brokerage to hang your license with can be overwhelming. Believe me, I get it. So, take your time and do your research. As I’ve pointed out, many of your local brokerages have their own culture, commission splits, tech stacks, and marketing to give their agents the tools they need to find their own path to success. Interview many of them. Learn what fits best for your goals and needs. And maybe even more importantly, you need to fit the culture of the brokerage you choose. But don’t worry if you don’t like your initial choice, you can make the switch when you need to. 

Have you made a brokerage change in your career? How was it? What was most important to you when choosing your new brokerage? Let me know in the comments.

The post Best Real Estate Company to Work For in 2024 appeared first on The Close.

1. Analyze Realtor Headshots & Emulate Them

They say imitation is the purest form of flattery; in this case, it is often the fastest route to getting a headshot you love. Find your market’s most successful real estate agents and preview their headshots. Look closely at their poses, smiles, clothes, and backgrounds. What makes these headshots stand out? What do the small details convey, even subconsciously, about the agents? Choose your favorite ones and emulate them during your photoshoot.

Avion Abreu (Source: Sotheby’s International Realty)

Feras Abbas (Source: Sotheby’s International Realty)

Bobbie Abagnale (Source: Sotheby’s International Realty)

2. Get a Professional Photographer

Celebrity portrait photographer and photo artist Michael Grecco knows how to take a headshot and has captured countless famous faces, from Kanye West to Steven Spielberg. Grecco’s number one advice to The Close readers is to hire a professional photographer to control the situation and coach you through getting the exact results you want.

“Just like any important business meeting, you should show up to your photo shoot well rested, relaxed, and ready to work. But you aren’t paying someone to open and close a shutter. You’re hiring someone to take control of the situation from start to finish, guide you through your poses, suggest your wardrobe, and teach you how to get the most out of every minute of their time.

“If your photographer isn’t making your photo shoot easy, you’ve got the wrong photographer.”

Michael Grecco

How to Hire a Headshot Photographer

• Step 1: Research photographers specializing in corporate or headshot photography. Look at their portfolios and decide whether or not you like their style.
• Step 2: Set a budget. Remember, this is an investment in your professional brand. You can use your headshot in many marketing materials, so ensure you set aside a reasonable budget.
• Step 3: Contact potential photographers to determine whose services you’ll use. Inquire about their services, pricing, and availability to see whether they fit your needs. If everything seems good, it’s time to book your headshot session.
• Step 4: Before you arrive at the studio, ensure your photographer understands your expectations and has a plan to meet (or exceed) them. It’s worth having a 10-minute conversation before shoot day to ensure you’re both on the same page. Here are a few details to nail down beforehand:
  • How do you plan on using your headshot in marketing?
  • Where will you shoot?
  • What image resolution do you need? 
  • Is there a particular look or feel you’re going for? 
  • Is there an additional charge for retouching? 
  • Are the copyrights and usage rights included? (More on this below)
  • When do you expect to get your photos?

3. Hire Professional Hair & Makeup Artists

Even if you’re a Sephora junkie, chances are you’re not going to be able to do your own hair and makeup as well as a professional can. Even subtle differences can have a significant impact when trying to look your best in your real estate headshot. Professional hair and makeup artists will know how to make you look your best on camera. So, before you book your shoot, ask your photographer if they know good hair and makeup artists or professional stylists. Many stylists work with professional photographers to ensure everything is picture-perfect!

Colleen Lawson (Source: SERHANT.)

Alex Abrahamson (Source: SERHANT.)

4. Dress to Impress

Clothing is always a question when it comes to real estate headshots, but it’s easily answered. Speak to your photographer about colors and prints, and ensure that whatever you wear makes you feel good. If you aim for professionalism and comfort, you will look more natural in your photo session. Your photographer should be able to advise you if you have concerns or questions.

Here are some tips on what you should and shouldn’t wear to your photo session:

• Wear something you’ll also wear when meeting a client. This attire usually includes a blazer, tailored pants, dress shirt, blouse, and slacks.
• Choose neutrals instead of bright and neon colors. If you want to wear colors, opt for muted shades to avoid overwhelming the viewers.
• Stick to solid colors instead of various patterns and tacky logos to keep the focus on your face.
• Opt for minimal and tasteful accessories. Don’t wear flashy and distracting pieces of jewelry that can overpower your whole outfit.

Liz Obregon (Source: Coldwell Banker Realty)

Robert Kinoshita (Source: Coldwell Banker Realty)

Dhru Patel (Source: Coldwell Banker Realty)

5. Take Test Shots Before the Big Day

If you want a professional-looking headshot that shows you’re honest and trustworthy (rather than just nervous), you should practice a bit. Before the big day, pick out exactly what you want to wear and recruit a friend or coworker to take a few shots. While the pictures won’t look as good as the pros’, you can try different expressions and poses while in your real estate best.

Courtney Chase (Source: Douglas Elliman)

Ellis Bachman (Source: Douglas Elliman)

6. Use Local Landmarks as Background

Real estate doesn’t happen in an office, a bank, or even on your smartphone—it occurs in the communities you serve. While having a quality set of studio images is essential for all sorts of applications, don’t miss the opportunity to include a photo shoot in your community. 

Since you aim to look as natural and trustworthy as possible, ditch the cheesy backdrop and head outside for your photo shoot. Consider shooting in front of an iconic landmark that represents your town. We like these examples that show off the Brooklyn Bridge, the Ravenel Bridge in Charleston, and the impossible-to-mistake yellow taxis of New York. The result will be a headshot that wordlessly conveys your local bona fides.

Lindsay Coleman (Source: Douglas Elliman)

Paul Smith (Source: eXp Realty)

Kaitlin Adams (Source: Douglas Elliman)

Here are more backdrop ideas you can use for real estate agent headshots:

• Backdrops that showcase your niche
• Your brokerage’s branding or logo, or if you’re a solo agent, use your logo
• Your office or a stylish living room

7. Smile Naturally!

Some real estate agents think looking professional in their headshots means giving a stone-faced blank expression rather than a warm smile. After all, many very powerful people look serious in their headshots. If you’re considering going with the stern look, a study at the Max Planck Institute for Evolutionary Biology showed that smiling increases trust and makes people view you as more honest.

Maria Victoria Andrade (Source: Douglas Elliman)

Jackson Keddell (Source: Douglas Elliman)

Still nervous about giving your perfect smile? Follow these tips:

• Practice smiling in the mirror and say goodbye to awkward smiles! Try different smiles until you find one that feels natural.
• Collaborate with your photographer to find the best smile. They can provide valuable feedback and suggest adjustments to your angle and position, helping you achieve the perfect smile.
• Remember to relax your facial muscles and jaw. Tension can make your smile look strained, so staying relaxed and natural is essential. 
• Smile with your eyes. Before the photographer clicks the shutter, think of something that makes you genuinely happy.
• Avoid overly broad smiles. Don’t smile like you won the lottery; an overly wide smile might seem insincere.

8. Pose With Confidence

The days of upright, awkward, and frozen headshots are behind us. A relaxed and comfortable pose is acceptable, especially in our industry. Some of my favorites show the subject sitting down, looking approachable and primed for an important conversation. These agents look ready to solve all of your real estate problems.

Dan Deon (Source: Coldwell Banker Beyond)

Susan Niami (Source: Coldwell Banker Realty)

Butler Derrick (Source: Carriage Properties)

Need more tips on striking the right pose for realtor headshots? Here are some:

• Stand tall and maintain a good posture. Stand straight, but keep your shoulders down and relaxed. Don’t stand like a robot.
• Look right through the camera. A confident gaze communicates reliability and inspires confidence and trust.
• Keep your hands relaxed. Avoid awkward hand positions by placing your hands in your pockets or resting them on your hips.
• Avoid a double chin by angling your chin forward and tilting your head slightly.
• Experiment with your angles! Your photographer knows what poses work for you. Ask your photographer if your pose looks stiff and awkward.

9. Get Several Headshots for Multiple Purposes

When following your real estate marketing plan, be sure to include a great headshot in your marketing and business promotions. However, making a single image work for many applications is not always possible. A simple, clean background is best if your headshot will be used alongside other agents’ headshots (if you’re speaking on a panel, for example). But if you’re looking for a headshot for promotional materials or social media, you need one that indicates who you are and your target market. This fact may mean you need multiple outfits and settings for your shoot.

10. Ask Strangers to Pick Your Best Headshot

Most people struggle to be objective about their own image. It’s just too easy to either fall in love with a headshot that doesn’t work or ignore the one that does. Your friends, coworkers, and family might have the same bias. Worse, they may avoid the truth to protect your feelings. Consider using Photofeeler, which allows you to crowdsource real, unbiased advice from the general public.

11. Avoid Over-editing

With the magic of Photoshop and filters, it’s tempting to over-edit real estate agent headshots. I’d advise you to hold back, or else you’ll get an end product that doesn’t reflect the subject. Have a blemish? Go ahead and erase it. Errant hairs flying out of place? You can fix those too. But go too far, and people will notice the post-production instead of your beautiful smile. 

If your photographer handles touch-ups, ensure they know you want a natural look. Ask them to reduce the corrections if the final product looks like a gauzy Glamour Shot.

12. Purchase the Full Use Rights & Copyright for All Your Headshots

Photographers will often retain the copyright for any images they create unless you specifically purchase the usage rights. Make sure you ask your photographer about copyright and use. Are there any restrictions on how you can use your images? Will your photographer retain the copyright for your pictures and use them for their purposes? If you can purchase all copyrights and uses for your headshots, go ahead and do it.

Lara Maric (Source: SERHANT.)

Marco Nasso (Source: SERHANT.)

By default, photographers hold the copyright and usage rights to all the photos they’ve captured, meaning they have the right to reproduce and distribute all your headshots. Purchasing the copyright for all your realtor headshots allows you to use all your images without restrictions. You’ll be free to use your headshots in all your marketing materials, websites, and social media without asking for permission from the photographer.

13. Use Your Headshot Consistently

Sure, you think I’ll put my headshot on my website and probably my postcards and add it to my real estate agent bio, but that’s all. No—that’s not all! Put this hard-won headshot everywhere! On every social media channel, on flyers, postcards, park benches, or on a banner waving in the wind behind an airplane. Paper the town with your professional image so that your community knows who you are and you’re the one to trust.

Kim Adams (Source: Sotheby’s International Realty)

Sheena Alescio (Source: Sotheby’s International Realty)

FAQs: Real Estate Headshots

How much do real estate headshots cost?

Should I hire a professional photographer for my headshot, or can I take it myself?

What if I’m not photogenic? How can I improve my headshot?

How often do real estate agents need to get new headshots?

Bringing It All Together

A great headshot is the unifying piece of content that ties all your real estate marketing together. Take the time to get the right photos done the right way. Have questions or advice? Leave a comment below!

The post 13 Tips for Creative Real Estate Headshots (+ Examples) appeared first on The Close.

Real Estate Agent Salary Defined

While we do use the term salaries, agents are typically independent contractors. So, a real estate salary is really your gross commission income (GCI), or how much you take home through your real estate transaction commissions.  Remember, these are averages (and before taxes because, with effort and time, there is no limit to your take-home pay).

And the top six states might just surprise you! Check it out while we pack our bags and move to Kansas.

How Much Do Real Estate Agents Make in My State?

A note on the methodology behind The Close’s proprietary real estate agent salary information: Our salary database is supported by data from numerous sources, including Indeed, ZipRecruiter, Salary.com, Glassdoor, and the National Association of Realtors (NAR). 

Keep in mind that these are general averages that regularly change and depend on local markets, individual effort, broker splits, and agent experience. Despite their dynamism, these numbers offer a good idea of an average real estate agent’s salary, state by state.

Why Real Estate Salaries Vary

The average real estate salary may have surprised you—after all, Alabama and New York are neck and neck. When looking at the earnings of a real estate agent, there are plenty of reasons why they might be higher (Maine?) … or lower than you’d expect: 

• Disparate housing markets: Since real estate agents’ total compensation is based on commissions, states with higher average sale prices will see higher average incomes.  
• Competition: Agents in a small community with only a handful of real estate pros will have a better chance of winning clients than in a large city like Dallas, with roughly 750 agents. 
• Brokerage splits: Every brokerage handles splits differently, and in a world where brokerages are moving online, those splits can be even more beneficial to agents. These varying models skew the numbers even further, as agents at one brokerage could make a lot more from the same number of transactions than agents from a different brokerage. 
• Old-fashioned hard work: No surprise, commission-based salaries often reflect work ethic and hustle. It’s generally safe to say that agents who work their tails off will bring home more than agents who don’t. The same thing goes for experience. Agents with more years under their belts generally take home higher compensation. Remember, some part-time agents might not be at the top of the average but are still making their side hustle worth it.

How to Increase Your Real Estate Agent Salary

While you can’t control how many years you’ve been in the business or the amount of competition in your area, you can always level up and increase your salary, even if you’re a brand-new agent. You’re not locked into a salary determined by corporate role banding. You have unlimited potential. The Close has the tools and strategy guides you need to plan, start, and scale your business. 

• Select a real estate niche: It might be military families, seniors, first-time buyers, or luxury listings. Focus on that specific market and become the “go-to” for everything in your niche. 
• Focus on your skills: Focus on skills that will benefit you and your commission. Start with sharpening your negotiation and communication strategies.  
• Make strategic decisions: If you’re a new agent, start with our checklist, made specifically for you. It will help you make a strategic plan for success and a healthy salary. 
• Put that well-earned license to work: We have a whole list of jobs that require a real estate license and might just be the perfect side hustle for you.

Real Estate Agent Salary FAQs

What is the difference between a real estate agent & a broker?

What’s an average Realtor salary?

What makes up a real estate agent’s salary?

Bringing It All Together

We might not have nailed the Jell-O to the wall, but we offer a pretty good idea of each state’s average real estate agent salary. While these numbers are constantly twisting and changing in the winds of our stormy real estate market, at the end of the day, real estate agents have a big influence over their take-home pay. Put in that hard work, lean on us for strategy and advice, and you’ll outperform your state’s average salary in no time. How do these numbers reflect your experience? Have comments or questions? Leave us a comment below!

The post Real Estate Agent Salary: How Much Do Agents Really Make? appeared first on The Close.

As a real estate agent in New York City, I got to see just how frustrating it is to work with difficult people like me. Most homebuyers who showed up to my office came armed with well-intentioned but laughably inaccurate articles that promised them “Million Dollar Listing” apartments on “2 Broke Girls” budgets. I must have spent 30% of my time debunking real estate myths and patiently explaining how the market really works.

That’s why Jodie Cordell and I decided to put together this guide on how to educate your—ahem—“unrealistic” buyers or renters quickly and easily. If you do it right, you just might get an evangelist for life.

1. Come Up With Memorable Talking Points & Repeat Them Often

Let’s face it, dealing with difficult homebuyers can be a grind. One way to manage their unrealistic expectations quickly and easily is to come up with a few short, memorable, and ideally emotion-packed talking points and repeat them as often as you can. 

Think about when you first heard a talking point like, “Those who list, last,”—how easily you remembered it and how often you’ve repeated it. The reason a phrase like this has such an immediate and memorable impact on new agents has to do with a concept that neuroscientists call neural plasticity. It’s basically a fancy way of saying there are ideal conditions for learning and retaining a new idea. If you want to educate buyers quickly, then you need to come up with a few talking points that help create ideal conditions for neural plasticity. 

Here’s how: According to Stanford neuroscientist Andrew Huberman, urgency and focus are what you need to help someone learn something new. So come up with talking points that create both. That means short, memorable, and emotion-laden talking points, delivered directly and candidly.

After an afternoon with me, my homebuyers probably heard me say this at least 10 times: “Your apartment can be affordable, nice, or in a great neighborhood. Pick two.” Was it cheesy? Yes. Did it help educate my clients quickly? Also yes.

Here’s a significantly less cheesy but equally effective talking point from Alexander Boriskin, an agent in Manhattan and The Hamptons who regularly sells eight-figure listings: “It’s certainly a buyers’ market, but fire sales are very far and few between.”

Here’s another from Manhattan agent Kemdi Anosike: “Compromise is a must. You don’t always get everything on your wish list, and that is OK.”

Here’s one from Jodie: “There is no perfect house. On a scale of one to 10, shoot for an eight.”
Just remember. Urgency + focus = learning. So take an hour or two and see if you can distill your market knowledge into a few short, memorable talking points that will teach difficult homebuyers a lesson quickly.

2. Use Your Lead Magnets to Educate Buyers Before They Call You

Some homebuyers you take on just don’t want to listen. They think because their hairdresser’s friend’s nephew got a two-bedroom in SoHo for under $1 million a month, they can too.

But no matter how off the mark their expectations are, you run the risk of turning them off with your perceived pessimism. And the reality is some buyers will shop around until they find an agent who tells them what they want to hear: “Of course there are 2-bedrooms in SoHo for under $1 million! Let’s meet up on Saturday and we can see some. By the way, how’s your credit?”

Instead of risking these starry-eyed buyers ditching you for someone who promises them rainbows and unicorns, why not generate realistic prospects with lead magnets that also educate them? Putting together a well-written and researched new homebuyer’s guide as a free download on your site will take you all of a weekend. You can even tailor it to specific neighborhoods and price points. Or better yet, target your specific niche to attract your ideal clients.

Then set up a landing page on your website and drive some traffic to it with pay-per-click ads on social media. The prospects you get from lead magnets like this will already have your advice in their heads before they call you.

If you already have a website, check out our guide to landing pages here. If not, you might want to check out Real Geeks. Real Geeks’ property search tool not only gives your leads a smooth search experience but feeds their info directly into your customer relationship manager (CRM) so you can track their interests easily.

3. Show Them, Don’t Tell Them

One of the biggest mistakes new agents make is waiting around the office all day for the “perfect lead” and dumping everyone else into crummy drip campaigns. Is your phone ringing off the hook? Are you so busy that you can’t be bothered to meet someone who might net you six figures or more in commissions over the next few years? Of course not.

Whenever you get a new lead, the first words out of your mouth should be something along the lines of, “What time on Sunday can we go see the listing?” This will not only help you build relationships with top-of-the-funnel leads, but will give you the perfect opportunity to educate them as well.

Come up with three to five listings that roughly fit the homebuyer’s criteria and budget, and one that’s exactly what they want but far out of their budget. Take them on a tour of the places in their budget, which they’re going to hate, then take them to the expensive place but don’t tell them the price until they get excited.

Remember: Urgency and focus are what you need to teach someone something new. It is much, much easier to create these conditions standing in a home and looking at the kitchen than it is in a marketing email.

4. Research Your Market & the Economy, Constantly

Of course, if you’re not spending enough time studying the market and the economy and how they work together, all the snappy talking points in the world won’t help you. Even unrealistic buyers can sniff out agents who are not well-informed. The minute they talk to someone who actually knows what they’re talking about, your buyers will ghost you. And for good reason. Why would anyone want to work with a professional who doesn’t know their trade?

Instead of trying to fake it till you make it, educate yourself. Constantly. There’s simply no excuse for not knowing your market and the local economy inside out. And if you want to work in a luxury market, chances are many of your leads will work in finance and know way more about the market and economy than you do. Why should they even bother talking to you? You’re not bringing anything to the table.

To stay up to date with your market, subscribe to local news sources that cover real estate—ideally sources that only cover real estate. Inman can be a great source of information for the market in general, and if you’re in a big city like New York or Chicago, The Real Deal and Crain’s should be in your inbox every morning. RISMedia is another great real estate news source.

Also, make sure you’re getting the latest data from your real estate association. Our very own Kate Evans breaks down the National Association of Realtors’ housing data every month and offers free infographics and talking points for both homebuyers and sellers. 

Learning about the economy and how it affects your market is just as important. If you didn’t study economics or finance in college, don’t sweat it. MIT Open Courseware offers Ivy League-level lectures on economics online for free.

5. Use a Wish List to Prioritize Needs vs Wants

It’s just good practice to have your buyers create a wish list. Then, sit down with them and discuss the importance of each item on the list. Make your buyers sort these items into what is a want and what is a need. Having this conversation will help when you start looking at homes that are out of their price range. And you can refer back to this list over and over, redirecting them from their idealistic, starry-eyed dreams to the reality of their budget.

Obviously, what happens is that gourmet kitchen they said was a need will eventually become a want. The list will change over time to be more reflective of their current reality. And in these moments, you can remind them that if the house they settle on doesn’t have everything they want, they can save money, build equity, and trade up in a few years. And you’ll be more than happy to help them with that when the time comes.

6. Practice Patience

Honestly, I don’t know why we expect clients to understand what we spend every single day studying and practicing. It’s not their job to know the market or to understand how real estate works. That’s our job. So, first, practice patience with difficult homebuyers. Use all your active listening skills here. And never condescend. That’s the fastest way to lose a buyer. 

Jodie typically likes to use visual aids when she talks to homebuyers. She uses a lot of infographics, especially in her buyer’s presentation. For example, she uses the one above to demonstrate the relationship between location, features, and price. Use visuals to get the point across and teach your buyers about the process of buying a home from beginning to post-closing. 

7. Cover Finances First

Many buyers will come to you after looking at their dream homes online. Which means they haven’t talked to a mortgage broker yet. They’re coming to you with stars in their eyes and a dream in their hearts, but the loan originator can quickly pull them back to reality with a pre-approval letter. Encourage your buyers to get their finances straight first before you start showing them houses. 

You can explain to them the last thing they want is to fall in love with a house they can’t afford. So, once they get that budget set, they’ll be forced to stay within it. You can also direct their attention to not only their approval amount, but how much they will pay per month on their mortgage. Just because they’re approved for a $500,000 mortgage does not mean they want to (or can) make that payment each month. Most often, buyers don’t take into account the other items (property tax, insurance, HOA fees, etc.) that will come along with that monthly payment.

8. Choose Your Allies Carefully

I’m sure we’ve all heard the advice from our elders, “Never pay the asking price for a house!” I don’t know where (or when) this little tidbit came from, but I still hear it from clients, usually right before they try to get me to write up a lowball offer on their dream home, thinking we’ll just negotiate the price. But honestly, even if it was true once upon a time, this is terrible advice for today. Your buyers need to know that they’re working from old data.

Now I’m not suggesting that you insult them by telling them they don’t know what they’re talking about. They may have gotten that information from their dad or a trusted friend. You have to be tactful when you explain that today’s market is far different from the market in which [insert family member who bought their house in 1984] purchased their home. 

Your buyers have probably been inundated with “advice” from friends, family, coworkers, and colleagues on the “best practices” for buying real estate. But the truth is, practically everything outside of “find a good agent” is outdated, untrue, or misleading. 

Take their comments in stride and let them know, in a loving way, that their friends and family don’t do this for a living and their advice is not accurate in today’s market. Encourage them to lean on one family member or friend they trust to seek counsel outside of yours, but tune out the rest of the advice noise.

9. Prepare Them for the Emotional Roller Coaster

One thing your buyers probably haven’t been told is how emotional buying a house is. With all the advice coming in, you might think someone would have mentioned the emotional roller coaster of buying a home, especially for first-time homebuyers. 

The best way to address this is to first give your homebuyers a heads-up. Let them know that buying a home is emotional. Explain to them that their judgment will be clouded by their feelings. 

Next, after you’ve told your buyers they will be tempted to buy based solely on their emotions, lay out your strategy to combat making irrational decisions. Go back to their wish list with their wants and needs lined out. 

Sure, everyone wants to buy that gorgeous house with a pool in the backyard, but was a pool even on your list? It’s definitely not a priority. So, do you really feel comfortable tacking an extra $500 per month on your mortgage payment? 

As the real estate agent, part of your job is to continue to ground your buyers and make sure they’re not sinking themselves. Bring them back to reality whenever you need to. They’re counting on you to do that for them. It’s your responsibility to remind them of the end goal, to help them cross the finish line. Don’t let them get into a situation where they will end up having to sell in two years because their payments are more than they can handle. 

You may feel like the wet blanket, but it’s important for homebuyers to have someone looking out for their best interests. Dreaming is fun. But getting tied to a house you can’t afford is a nightmare.

10. Build a Solid Foundation

Shattering your clients’ homebuying dreams is a tough part of our jobs as agents. One way to make this challenge easier is to start with a solid foundation. When you build a trusting, compassionate relationship with your clients, you’ll have an easier time telling them those truths they may not want to hear. 

Don’t start off dashing their hopes right away. Start by being that comforting, empathetic ear. Listen to their dreams and feel their excitement. Don’t make promises you can’t keep, but let them dream first. Then, gently bring them to a reality that will let them have a piece of that dream. Show them a path that will help them get as much of what they want as possible. Be a knowledgeable, creative problem-solver, sharing their enthusiasm for finding them the right home. 

11. Learn How to Get to Carnegie Hall

If you’re a newer agent, then before you start effectively educating anyone, you’re going to have to learn the meaning behind that old joke about how to get to Carnegie Hall. If you don’t already know, it’s actually very easy: Practice.

The first few times you try to deal with difficult homebuyers, you’re either going to sound a bit unsure, you’re not going to have the right talking points, or you’re not going to be very well educated on your market or the economy. 

Don’t sweat it, though. Even the best agents in the world started out right where you are right now. The big secret is that many of these agents aren’t even very talented or smart. In real estate, hard work and practice will beat out talent any day of the week.

You can start practicing dealing with difficult homebuyers right now by running scenarios with your fellow agents and practicing what to say in different situations. Study your market every day and know your stuff so you’re prepared for any questions thrown at you.

If you want to build the kind of strong relationships that lead to years of referral business, then never stop learning, come up with some talking points that create urgency and focus, and practice, practice, practice.

Over to You

Have a great talking point you use to educate difficult homebuyers? Add it to the comments below or post it in our Facebook Mastermind Group.

The post How to Educate Unrealistic Buyers & Convert More Leads (Quickly) appeared first on The Close.

Establishing a solid foundation for your brokerage is not just a recommendation—it’s the key to ensuring long-term sustainability. By understanding these nine potential mistakes on the brokerage management side, you can position yourself as a trusted broker and ensure the growth and viability of your new business. 

1. Lack of Proper Market Research  

Do you understand your target market and how are you going to reach them? What is the demand for your services? Who is your competition? 

If you open a brokerage, these are all questions you need to answer in order to reach your target demographic and succeed. A great reputation as a Realtor doesn’t necessarily translate to a successful brokerage, especially in the beginning. I quickly learned that most people won’t hang their hat on a maybe!  

How to Avoid This Mistake 

Understanding your target market is the first step to success. Dive into thorough market research to identify your audience, assess demand, and comprehend your competition. Being a top producer in your area is an asset, but translating that into a successful brokerage requires a clear strategy tailored to your target demographic.  

When I opened my brokerage, I drove through town and did a thorough evaluation of my competition. At the time, there was nowhere that aligned with the way I wanted to do business. In essence, I created my own solution, and that allowed me to be different and stand out.

2. Poor Business Planning & Financial Management                                   

I don’t doubt that you understand that starting a brokerage takes a significant financial investment. But many new broker-owners still manage to underestimate how long it will take to start bringing in consistent income. It is crucial to have a contingency plan for slower-than-expected startup or even a market shift that could prolong your projected trajectory.  

How to Avoid This Mistake 

Secure your future. Never let yourself forget that launching a brokerage requires a significant financial investment, and success might not happen overnight. Develop a comprehensive business plan that not only factors in financial investments but also considers the time it takes to start generating consistent income. After you create your ideal business plan, create a secondary contingency plan that takes into account slow starts or market shifts.

3. Inadequate Legal Compliance 

No one needs a lawyer until they need a lawyer! Legal issues may seem distant, but having a legal partner who understands them on your side is crucial. Also, as a broker-owner, you’re taking on a lot more liability than you ever did as an agent.

A lawyer is your best business friend—mine literally is my best friend! My lawyer is also a real estate broker, and as both a lawyer and practitioner of real estate, we together were able to successfully navigate many difficult scenarios.

How to Avoid This Mistake 

Not all lawyers are created equal, so do your research and find a good partner in a real estate attorney to help you navigate legal issues as they arise—and they will. I suggest finding a lawyer who is also a practitioner of real estate and someone who understands your market along with your local boards and how they operate.

4. Failing to Expand Your Leadership & Management Skills   

Most broker-owners are the highest selling agents in their areas. But being a top producer is often a whole different skill set than running a real estate brokerage. If you are looking to truly grow the brokerage, you will likely need to step out of the top producer role and into a full-time broker management role. Be watching for when that shift starts to come. 

How to Avoid This Mistake 

Recognize the point at which you need to step into a full-time management role to truly grow your brokerage. For me, that point was about 3.5 years in, where I didn’t need my sales to support the brokerage functions. It is often a hard shift to make for yourself financially, so make sure you are ready to make that leap.

But before you make the leap, ensure you have what it takes. Transitioning with grace from being a top-producing agent to a broker-owner requires a shift in skills. Learning to balance leadership and management is key to fostering a thriving, collaborative environment.

The Close Recommends

When you’re ready to start hiring at your brokerage, check out ZipRecruiter. It’s the number one rated job search app on both Apple and Android devices, which means you’ll cast the widest net possible for new talent.

Visit ZipRecruiter

5. Not Mastering the Intricacies of Real Estate Contracts 

I know it seems like common sense, but alas, I run into brokers all the time who do not have a real understanding of the contracts underpinning their business. The majority of questions you will field from agents will be contract-related and it is important to be able to advise them correctly to avoid legal complications.

How to Avoid This Mistake 

I love contracts! As a continuing education instructor, my favorite class to teach is our three-hour contract class. I pride myself on the fact that seasoned agents walk away from my class with a new understanding of contracts that they didn’t have before. Let’s take it a step further: Get yourself certified as an instructor so you can keep your agents educated and keep yourself in front of your agents providing value. 

6. Failing to Prioritize Networking & Relationship Building   

Relationships—whether we’re talking clients, fellow brokers, or other professionals in the field—are the backbone of the real estate industry. For me, building trust with fellow brokers was something of utmost importance as I built my brokerage. It paved the way for my agents to have successful transactions. Upholding a high level of professionalism and integrity will build your reputation and foster trust with clients and colleagues.

How to Avoid This Mistake 

You will feel pulled in so many directions in the beginning. But if there’s one thing I attribute to my success, it’s jumping into anything I could to get involved in, community-wise. Follow your passions and do what you can to give back, and it will come back to your brokerage tenfold.

7. Not Devoting Enough Resources to Marketing & Branding 

Remember—branding isn’t just your brand colors and logos, but much more. It is the essence of your values and philosophies and how you do business. Your branding should tell a story about you!

How to Avoid This Mistake 

Develop a robust online presence through a professional website and social media platforms. Invest in marketing strategies to showcase your listings effectively and build that online resume for the future of your business.

The Close Recommends

In examining the best real estate lead generation companies available to agents in teams, we found CINC’s custom, hyperlocal advertising strategy, advanced customer relationship manager, and artificial intelligence nurturing tools work together to live up to its lofty promise of better leads for your agents.

Check Out CINC

8. Neglecting Technology

Embracing technology is vital for real estate agents. They are drawn to technology that will help them do their jobs better and more efficiently and edge out their competitors. You can look at this as part of agent recruiting and retention.  

How to Avoid This Mistake 

You must be prepared with tools, brokerage software, and online platforms. And you may have to look to other teams and companies to see what you’re missing. As I transitioned out of brokerage ownership and took my team to a large brokerage, I realized that—while I had indeed invested in good tools and we were thriving—there was much we were missing. Now that my team has these new tools, I see that we have an even bigger edge today thanks to the great technology they have access to.

9. Failing to Adapt to Market Changes 

Real estate is dynamic and ever-changing. Markets fluctuate and challenges arise, but adaptability is your greatest asset. Develop resilience to navigate uncertainties and bounce back from setbacks. We are all feeling this a bit in our current market! 

How to Avoid This Mistake 

No one can predict the future. But you can be proactive about remaining relevant in your market and to your agents, ensuring your brokerage remains a dynamic force in the ever-evolving real estate landscape. Another element that can help you here is adopting the mindset of a lifelong learner. Stay updated with the latest trends, technologies, and legal changes through continuous education.

Cheers to You

Congrats on setting the stage for a successful, optimistic journey in the competitive world of real estate brokerage. Here’s to your thriving brokerage and a future filled with growth and success!

The post 9 Common Mistakes New Broker-Owners Make (+ How to Avoid Them) appeared first on The Close.

You’ll notice that I feel strongly that there are more pros than cons to being a real estate agent. That’s because I have found my calling in this career. But I also want to be open and honest that real estate isn’t for everyone. It takes hard work, grit, and passion. 

Pros of Being a Real Estate Agent

1. You Can Create Your Own Schedule

The most common pro I hear from people who are thinking about becoming a real estate agent is the flexible schedule. But if you think that creating your own schedule means less work time, I’ll be the one to burst your bubble and tell you that is not necessarily true. It does mean that you don’t have to clock in with your boss every single day from 9 to 5, Monday to Friday. You are your own boss, and this is your business, so you get to make your day what you want it to be. Unless you have a team leader or broker who is setting your schedule for you, you hold the power to create a schedule that will set you up for success. 

I have found it helpful to fill in my calendar a month in advance for the things that I can, and then fill in weekly for other things. For example, when I started a networking group, we committed that our meeting time would be the first Wednesday of each month. So I added this networking group meeting on my calendar for each first Wednesday of each month at 10 a.m. 

When I became a Realtor, I was advised to schedule at least 10 hours of lead generation activities per week. The flexible part is that you get to choose which days, what time of day, and what activities work best for you! Once you decide where you want your production numbers to be and set your weekly appointment goals, you may want to increase this amount of time. 

You will also want to block availability for appointments and showings. Of course, if you have a client whose schedule only allows for times outside of what you have on your calendar, then you may need to adjust this later. Depending on the market, you may have to rearrange your other activities in order to go show them a home right when it hits the market. If your personal or family schedule doesn’t allow for this type of flexibility, then you can consider hiring an assistant or partnering up with other agents.

2. Being a Realtor Is Rewarding

This is my personal favorite thing about this career, and it makes all of the cons not seem so bad! I have never felt so rewarded doing anything else in life (except being a mother). Helping people achieve their real estate goals is truly incredible. You get to guide them in becoming their own hero—how cool is that?!

If you are a people lover and have a naturally encouraging personality, you will find a lot of joy as a Realtor. My daily goal is to try and help at least one more person, and the money will follow. 

3. Low Financial Commitment to Begin

Compared to the money that you can potentially earn being a real estate agent, the initial investment in order to get your license is pretty low! I’m licensed in Texas, one of the more demanding states in terms of prelicensing education. Even still, you can get your license here for less than $1,000. In states with fewer prelicensing requirements, such as Florida, Massachusetts, and California, you might only spend a few hundred dollars.

I personally used The CE Shop to get my license because it was all online and self-paced. They are always running great discount deals, especially during holidays and end of year. I was able to pay around $300 for all of my prelicense courses!

If you become a part of the National Association of Realtors (NAR), you will pay a separate membership fee. This will also be under $1,000, but will depend on the time of year you join.

Keep in mind that this is an investment in your career, and the opportunities to earn a substantial income as a Realtor are endless. You can work as much or as little as you’d like, all depending on what your goal income is. I’d also like to share that I did personally make the money I spent to get my license back after my first closing. So if I did it, so can you!

4. Endless Niche Possibilities

On top of the virtually endless income possibilities, the categories of real estate niches you could focus on are plentiful! Think about your hobbies and areas of interest. You can also make your focus an area of your town or city, or even a specific ZIP code or neighborhood. How great is it to be able to focus on the community you personally live in?

And it’s not just geographic niches either. You could just work with sellers if you wanted to, and have a teammate or partner who handles buyers. Or you could focus on working with just investors, or just on commercial buildings, or just leases. Here are some other niche examples:

• Condos
• Townhomes
• Historic homes
• Modern homes
• New construction
• Fix and flips
• Retail centers
• Industrial
• High-rise buildings
• Rural areas
• The inner city
• Suburbs
• Specific school districts
• Vacation homes
• Rentals

When I became a Realtor I was in a position where I needed to start making an income pretty quickly. So I felt like I needed to work with anyone and everyone, and drive anywhere to do so. But if I had put all of my focus and energy into a specific niche or area, I could have saved myself time and money.

5. Giving Back to Your Community

I believe we should do more than just live in our cities and towns—we should help them thrive! Being a real estate agent gives you the perfect platform to do just that. 

I recently joined a program called Homes for Heroes that will allow me the opportunity to give back to the heroes of my community: active military members, veterans, law enforcement, teachers, health professionals, emergency workers, and firefighters. 

This is a nationwide program, so if this interests you, then you should look into it. But the possibilities are truly endless here with what you could do for your community. If you have children in school, or you’re a member of a club or church, you can partner with these organizations to make some great things happen!

Cons of Being a Real Estate Agent

6. Lead Generation Can Be Challenging 

There are many elements to lead generation, and not all of them will be cons. But at first, it may feel daunting and challenging! For example, the fun part of beginning my lead gen journey was reaching out to everyone I knew and making the announcement that I had passed my exam and I was officially a Realtor! But then what? Not everyone I knew was going to be selling or buying a house! So then the challenge became reaching out to people I didn’t know and telling them that I wanted to help them buy or sell a home. Would they trust me? And what’s the best way to reach out to people you don’t know?

This will also depend on the brokerage with which you associate your license. Some brokerages will provide training on lead generation—or even provide you prospects to pursue—and others will not. There are so many lead generation programs out there. The team I joined when I started already belonged to a few lead generation programs that we used to call leads. But I just personally have never felt comfortable with cold calling. I know it works—that’s why so many real estate agents find success from it. But over the last couple of years, I focused on other avenues of lead generation that feel more natural to my personality. 

Because I have a background in event management, doing event-based lead generation is fun for me! If you are a golfer, start talking to more people at the course. Or if you are a parent, join the PTA and meet new people who might need your services. Being a real estate agent is so much fun—I love people and pouring into others. Building relationships will build a business in the long term!

After you find some different activities that are working for you, be consistent! Don’t stop doing something if you don’t see immediate results, particularly with mailers or social media. These things take time, consistency, and a lot of patience to grow!

7. Cost of Running Your Business Could Be High

Earlier I mentioned that the cost to get your license was fairly low. On the other hand, there are other costs that come with keeping your license and running your business. When interviewing with different brokerages, it is important to ask about what they will charge you, like desk fees and signage fees. If you are on a team, these fees will most likely be included in the percentage of commissions they keep from each of your checks. 

Regardless of whether you’re an individual agent or on a team, you’ll end up spending quite a large amount on marketing. This includes photos, videos, templates, mailers, flyers, consultation presentations, door knocking items, client gifts, events, and more. 

The biggest downside to this is that you spend all of this time and money without the guarantee that you will make this money back. Of course, if you are putting in the work along with the marketing, then I’m 99% sure that you will make the money back plus some, but there is just no guarantee. 

In addition to marketing, you may spend a fair amount of time and money working with buyers who may never actually purchase a house. If they don’t buy a house, we don’t get paid. I’d honestly say this is the biggest con in my experience. The majority of my clients do buy a home, but this year I have personally experienced a few deals go wrong. So the time and money I had invested in those clients was not returned, unfortunately.

8. No Guaranteed Paycheck 

Not having a definite paycheck coming in month to month can be a huge stress factor in this career field. Yes, you can help eliminate some of this fear by having a plan of how much you need to make per month and backing it up with the actions you take to make sure you hit these numbers. But regardless of how much you plan, honestly, there will be deals that go wrong for reasons completely out of your control. You don’t want this to put you in a terrible financial situation. Always have savings and some cushion in your account for these times. 

There will be ups and downs—slow markets and lucrative markets. I’ve experienced months with no closings, and some months with seven closings. The key is to not feel financially stressed through these ebbs and flows.

I went quite a few months before my first closing when I became a Realtor. Once I started saving a portion of each commission check and reached my expenses goal, my stress level decreased substantially. When I wasn’t stressed about the next closing anymore, I noticed my business growing even stronger. I could walk into a consultation with more confidence and less fear of rejection.

9. Dealing With Rejection Can Be Tough

Especially if you have never been in sales, hearing the nos can be quite challenging! Honestly, even after five years, it’s still not fun. Rejection is tough. You will get hung up on when making cold calls and even rude responses when texting people you don’t know. You will go on many consultation appointments, and you won’t end up working with every one of those people because they choose to work with another agent. It’s also tough when you submit an offer for your buyer in a multiple-offer situation and the seller doesn’t go with your client.

That’s why I mentioned in the beginning of this article that being a real estate agent is not for everyone. You have to have grit and thick skin. 

It is all about learning how to let the nos go and then focus on getting the next yes. In the beginning, someone told me it takes 12 nos to get to the first yes. This helped me because I was already expecting to hear the nos.

Don’t get me wrong; I still would like to only hear yeses! I don’t think this part of being a real estate agent ever gets easier. But I do know you will doubt yourself less after some time goes by. You will gain more confidence and have peace knowing you did everything you could do.

Over to You 

After reading this article, if you are feeling like being a real estate agent could be your calling too, then leave me a comment below. I would love to hear from you and answer any follow-up questions you may have.

The post 9 Pros & Cons of Being a Real Estate Agent (+ Tips for Success) appeared first on The Close.

There are so many great real estate door hanger ideas out there you can use to reach prospects and stay top of mind in your market. I scoured the internet to find creative real estate door hangers to inspire you. Some examples are Canva templates you can customize, and some are predesigned you simply order as is. But they’re all fabulous!

21 Fun Real Estate Door Hanger Ideas to Inspire You

1. Join Our Open House

These adorable hangers will surely stir up some visitors for your open house marketing. Hang these on all the neighbors’ doors, and you’re sure to impress. If you’ve never shopped Zazzle for your printables, you need to get over there and check them out!

2. Homeseller Checklist

I love the use of both sides of this Canva template door hanger. And a seller checklist is always appreciated. Stand out in your neighborhood with these elegant marketing powerhouses.

3. Also Your Neighbor

These adorable hangers, in the shape of a house, can be customized in your chosen color. I love how they have a spot for your business card too.

4. Just Sold Your Neighbor’s House

These elegant door hangers will announce your expertise. Just sold door hangers are a great way to let your neighbors or your farm know that you know the neighborhood.

5. I’m Not Just an Agent

What can I say? I’m a sucker for house-shaped door hangers. And these are simply adorable! They’re the perfect way to introduce yourself to your neighbors, don’t you think?

6. Just Listed

Look how adorable these door hangers are. This is a Canva template that you can customize to fit your style, but who wouldn’t love it as it is? I’m obviously a big fan of utilizing both sides of the door hanger, and this one does a great job.

7. You’re Invited

There are so many creative designers out there creating amazing things for real estate agents. Here is another beautiful Canva template that you can customize with your picture, colors, and more. Use these templates for your next open house.

8. I’m Your Neighbor

I love how the word “neighbor” stands out on this particular hanger. This one gets 5-star reviews from agents who have ordered them and used them in their neighborhoods. Adorable.

9. What Does a House Wear?

This one made me giggle, and I’m sure it will make your prospects giggle too. Who doesn’t love a good dad joke? Grab some of these to use any time you need to add a little boost to your marketing efforts.

10. Hey Neighbor

Here are some more printed door hangers to canvas your neighborhood that will make you stand out from other agents. Pair this with a magnetic business card and you’ll be present in your neighborhood for months. When they need a cup of sugar, they’ll know where to go.

11. I Have Buyers

Ready to stir up some listings? Check out these house-shaped door hangers announcing you have interested buyers! They’re simple, eye-catching, and direct. If any homeowners have thought about moving, your message will certainly stand out.

12. Should You Keep Renting?

Ready to start converting renters into buyers? These smart door hangers are perfect for hitting up an apartment complex. You could even organize a first-time homebuyer seminar and add an invitation to these two-sided customizable templates.

13. Ready to Move?

These gorgeous templates are fully customizable and simply stunning. I personally love the jewel-toned inspo from these examples. What a great way to hit your farming area and your neighborhood to drum up some business. You’ll look like the rock star agent you are.

14. The Holidays in Your Dream Home

The holiday season is upon us. Why not snag some of these adorable door hangers and canvas your neighborhood and farm areas? They’re colorful, playful, and get to the point. These will certainly plant the seeds and help you reap the harvest in the coming months.

15. What Is Your Home Worth?

The thing I love about these door hangers is the QR code. You can easily create a QR code for your listing inside Canva while customizing this template. Imagine tracking the response rate to these door hangers. After all, when you remove obstacles—like having to pick up the phone and call you—your prospects are more likely to engage with your content. 

16. Fall in Love

Ah, fall! The cooler weather, the pumpkin spice, and the natural slowdown of the real estate season make autumn the perfect time to fill your pipeline with new prospects. It’s a great time to canvas your neighborhood with a gentle reminder that a new home is always a good idea. I love how this door hanger breaks down reasons to sell your home in the fall.

17. Buying or Selling Your Home?

These smart door hangers get right to the point with style. Use these door hangers to expand your farm area to neighborhoods you don’t actually live in. Ready to grow your listings? This is a classy door hanger to do just that.

18. Home for the Holidays

What can I say? I’m in love with the adorable, house-shaped cardstock door hangers from MarketDwellings. And these holiday ones are just too precious. I love the colorful font, the fun wintery scene, and the message on the back. Order these and have them delivered to your home before December so you have plenty of time to spread the holiday cheer.

19. Fireside Chat

Can these be any cuter? There’s no place like home for the holidays, indeed. These door hangers look like Christmas cards, and your neighbors are sure to fall in love with them. You can choose your color cardstock, so if red isn’t your brand, choose ice blue, green, white, or your own favorite hue.

20. Happy Holidays

These door hangers are a simple and elegant addition to your real estate marketing. And that’s what makes them awesome. The object is to stand out and be seen in your market over and over again. The more your prospects see your face, the more likely they are to remember you when the time comes to hire a real estate agent. These Canva templates are easy to customize so you can create stunning hangers that represent your personality.

21. Dear Renting, Let’s Break Up

And lastly, check out these wonderful door hangers from MarketDwellings targeting renters. You’re sure to make a lasting impression with these fun yet educational points to help renters become buyers. Who could throw these away?  

Your Take on Real Estate Door Hanger Ideas

Door hangers are a tried-and-true method for reaching your neighbors and farm for a small investment with a high return. You can stay in front of the people you want to work with, and all it takes is a bit of sweat. 

Etsy and Canva have made creating amazing door hangers, among other marketing materials, super easy and fun. And now Canva even offers printing services so you can order directly from inside the site. So, you don’t have any excuses for not doing some canvasing with some of these amazing door hangers. 

And for new agents just starting out, canvassing neighborhoods you prefer to work in, including your own neighborhood, is the perfect way to announce to the world that you’re open for business.

The post 21 Fun Real Estate Door Hanger Ideas to Inspire You appeared first on The Close.

In this article, I will uncover the full list of the services that your brokerage may choose to provide, a detailed description of each, and the estimated costs so you can make the best decision for your brokerage. Starting with software and outsourcing is not a bad idea while you continue to grow. Let’s dive in.

Buyer & Seller Leads

In an agent’s world, prospecting is the name of the game. They’re hungry for leads, and as more companies provide them, that appetite seems to grow. Keep in mind that when brokers supply their agents with leads, everyone wins. With more leads to work, your agents should close more deals—and add money to your brokerage’s pocket. 

The game has changed nowadays to make leads more accessible (as long as brokers are willing to pay). However, the benefit of buying these leads directly is that you can also save money on marketing—just cut out the advertising middleman and buy the leads directly from a platform like zBuyer. 

Of course, it’s not as cut-and-dry as all that. Providing your agents with leads means that you’ll need to budget for them. You’ll also need to hold your agents accountable for the leads you provide—that’s a fine line to balance. By offering leads, you may be attracting more junior agents with less experience who may need more coaching and education. This balance is important in keeping your brokerage alive with seasoned professionals as well as the fresh new agents.

Why Smart Brokers Provide Leads

Your return on investment (ROI) on providing leads will be directly related to your training and accountability to the agent. Brokerages that do this well can see a three to four times return on their money. Additionally, there are a lot of talented agents who just need a little momentum in their business, which brokerage-supplied leads may provide.

Lead Generation Cost Breakdown

Of course, the cost of providing your agents with leads will vary depending on where your brokerage is located. But if you want to provide enough leads to attract and maintain motivated newer agents, then you should expect to spend anywhere from $10,000 to $100,000 per month on leads. Once you throw in a lead manager, you can expect to pay another $45,000 per year for their salary. Let’s review some of the top lead gen companies that brokers should be looking at:

Consistent Digital & Print Marketing

One of the most important lessons learned over my 28-year real estate career is that nothing is more important in an agent’s business than them getting their marketing out consistently. Despite all the systems and tools that are available, more than 80% of agents still fail to follow up with their clients after a sale—not even a postcard!

Brokerage-provided marketing services can include mailing monthly postcards to their sphere of influence (SOI) and farm area as well as helping agents with social media content and creating professional listing and buyer presentations. Your brokerage can provide marketing services through software, outsourcing, or, when you’re large enough, hiring a full-time marketing manager.

Agently offers a full AI marketing suite with thousands of real estate social media templates—including buyers, sellers, video marketing, listing marketing, open houses and much more. It automatically integrates your brand so you spend less time on social media. You can also track your productivity and enhance your communication with your broker. Check them out at the link below.

Why Smart Brokerages Provide Digital & Print Marketing

If you want to add a service that provides value and measurable returns in both productivity and profits, then taking over your agent’s marketing is the answer. Agent marketing will attract other agents, increase referrals and repeat business from your agents’ SOI, and—best of all—it helps maintain your brokerage’s brand image and standards.

Digital & Print Marketing Benefits vs Costs Breakdown

Coffee & Contracts is a real estate marketing company that offers thousands of social media templates designed specifically for real estate agents. This includes Instagram Reels, carousels, Broke Agent memes, and more. You’ll get access to fresh content and new options every month as a subscriber. You can get started with $15 off your first month with the promo code THECLOSE.

Listing Preparation & Marketing

This is a no-brainer if you’re trying to recruit listing agents. Many high-producing agents are good at lead generation and sales but can fall short when it comes to marketing and managing their listings.

That means you can take a big burden off their plate by offering to handle all the details of listing preparation, like cleaning and staging. You may also help them with marketing tasks like photography, video production, sign installation, MLS input, and promotion.

These services should be outsourced until your real estate brokerage is large enough to support a full-time listing manager. Be sure to negotiate volume discounts with your vendors to keep your expenses within budget. If you’re just dipping your toe into this brokerage service, I recommend looking into providing your agents access to a service like Apply Design, an easy-to-use virtual staging software that charges $7 to $10 per image.

Why Smart Brokerages Provide Listing Preparation & Marketing Services

Of course, these services will allow you to attract the right agents for your brokerage, but there are other benefits you may not be aware of.

Maintain Your Brand’s Image & Standards

This way, listing marketing will be up to the standards of your real estate brokerage and in line with your branding. No more cell phone pics, dark and blurry images, or real estate signs printed with the wrong colors or font. Just this by itself will attract image-conscious homesellers.

Listings Sell Faster & for a Higher Price

When your marketing is done correctly, you will attract more buyers, too. The more buyers who see your listings, the greater chance they will sell quickly and for top dollar, and this will make your agents look good!

Higher Splits & Fees

Believe it or not, many productive and top-producing agents are happy to pay their broker more for the benefit of having all the listing marketing done for them. This provides them with the confidence they need to go after luxury listings and gives them back more time to do what they love—making more sales!

Listing Preparation & Marketing Benefit vs Costs Breakdown

Transaction Management Services

If you have a highly accountable group of agents, then any task you can take off their plate will increase their productivity. Simply put: If your agents are chasing paperwork, they are not  generating leads. Transaction management is an easy and low-cost way to get some of those red-tape tasks off your agents’ schedules.

You can choose to offer this as an a la carte service, but I prefer to increase my fees and include it on every file.

Why Smart Brokerages Provide Transaction Management Services

Taking over the transaction once it has gone under contract will not only free up your agent’s time, it will also eliminate the challenge of chasing down paperwork from your agents to complete your required brokerage file.

Since you have to pay someone to manage that file, it is easy and inexpensive to add this transaction management service to the list of what your brokerage provides. We’ve done a breakdown of our top transaction management software picks to make the choice as easy as possible.

Transaction Management Benefits vs Cost Breakdown

Agent Signs & Lockboxes (Installation, Removal & Storage)

It may sound simplistic, but providing signs and lockboxes and having them installed, removed, and stored is very enticing to agents. Why? Because what self-respecting agent loves to swing a sledgehammer at a steel sign frame to get it into a frozen lawn? No one, that’s who! Even worse is placing 20 open house signs on busy intersections wearing a black Armani suit in 100-degree weather. Been there—hated it!

Save your agents the pain and embarrassment of having to install listing and open house signs. Let someone else deal with the headache of where to place the lockbox and finagling it onto a metal screen door. Your agents will love you for the simple gesture. To provide this service, you can contract with a local sign company to manage the whole process. The cost is typically $30 to $50 for each install or removal.

Why Smart Brokerages Provide Sign & Lockbox Services

Maintain Your Brand Image & Standards

If I had a dollar for every time I saw one of my brokerage signs printed in the wrong color or with the wrong font, I could buy the Miami Dolphins! Most agents are not in tune with the importance of maintaining a brand, and if they have the ability to save $10 a sign by having them printed more cheaply, they will. If you include listing and open house signs as part of your services, this will ensure that your brand is always presented with quality.

Promote Your Brand

If your listing and open house signs are branded to your brokerage, you are also promoting your brokerage—and the best part is you only pay when your agents take a listing or hold an open house.

Signs & Lockboxes Benefits vs Cost Breakdown

• Sign installation, removal & storage, $60 per listing
• Lockbox installation, $20 per listing
• Open house sign installation & removal, $50-$100 per open house

Meetings & Events

Real estate sales is a social business, and most agents love to socialize. A healthy event calendar will not only increase agent retention, but will make recruiting easier. Real estate can also be a lonely business, and many agents are hungry for connection, especially if they are struggling.

3 Types of Events Successful Brokerages Host

Team Meetings

Believe it or not, team meetings are less about education and information and more about building and maintaining relationships and company culture. Coffee and donuts, or lunch right after your team meeting, can give agents a reason to socialize and bond. It also gives them a reason to show up (besides listening to you or your sales manager talk shop).

Social Happy Hours

A monthly happy hour at a local brewery or trendy restaurant will make your agents feel like you value them and want to get to know them better. Additionally, these social happy hours are a great opportunity to invite agents from other brokerages to check out your company’s culture.

Client Events

Getting in front of your agents’ clients not only builds your brokerage’s brand, but it provides a reason for your agents to reach out to their SOI and past clients. Many busy agents would love to throw customer appreciation events but lack the time or skills to do it. And some agents with small SOIs or client databases fear that they won’t have enough people show up. Why not give them all a helping hand and coordinate the event for them? There’s no need to do them monthly—quarterly or bi-annually will be enough to keep your agents in front of their SOI.

Meetings & Events Benefits vs Costs Breakdown

Education & Training

Any real estate brokerage that wants to serve agents throughout their careers must provide a full suite of education and training. If they’re not getting it from you, they will get it somewhere else. Plus, keep in mind that your educated agents tend to be more productive and on top of the newest contract changes, leading to less mistakes—in short, your errors and omissions insurance will thank you. 

Begin by thinking about what type of agents you want your brokerage to serve. What phase of their career are they in? What skills and knowledge do they need to be successful in order to push through to the next phase?

If you don’t have time for this rhetorical question, I did some of the thinking for you. Below you’ll find a short list of the phases of an agent’s career, as well as classes that will support them in that phase. 

Types of Agents & Training Smart Brokerages Offer

Unlicensed Prospects

People interested in getting into real estate need access to a real estate school. Many successful brokerages either offer an in-house real estate licensing school or have an affiliation with one, where they refer students in exchange for promoting their brokerage as an affiliation option. So if your business model includes recruiting brand-new agents, getting into prelicensing education is a no-brainer.

New & Newer Agents

This is where you need a structured training calendar—one that can walk a new licensee through a marketing plan, lead generation strategies, and all the required tasks related to working with buyers and sellers.

Newer agents also need the support of a mentor who they can call to get their urgent questions answered. This ensures that they are doing the right thing and protects your brokerage.

Productive Agents

Busy productive agents don’t want to sit in classes week to week. They only want to attend classes that they can directly apply to their business. Productive agents are attracted to business planning, lead generation classes, and continuing education (CE) credit courses that offer knowledge they can use.

Top Producers & Teams

Top producers and teams are looking for educational opportunities that are geared toward the latest systems, tools, and strategies that help them bring their business to the next level.

Try bringing in coaches, trainers, or top producers from other markets to teach your driven agents. Agents from outside your market area are more likely to share their secrets without the fear of a competitor taking their market share away.

Education & Training Benefits vs Costs Breakdown

Office Management Services

Beyond just printing fliers, holding classes, and running team meetings, you still have to fulfill all the state-mandated managing broker activities, such as agent supervision and file compliance—not to mention all the management tasks that go with running a brokerage, such as financial management, office reception, and recruiting.

While these services may not be on your company brochure, if you wish to have a successful brokerage, they still need to be managed. 

Office Management & Services Benefits vs Costs Breakdown

Essential Software to Manage Real Estate Brokerage Services

Now that you have decided what services you are going to provide the agents with your real estate brokerage, next look for the software solutions that will help you deliver these services and manage your brokerage.

To keep your expenses low, use software whenever you can. Even though the upfront cost and setup of software can be pricey, it will save you money over the cost of hiring an employee.

For a full list of software solutions to run a real estate brokerage, please check out the article: Real Estate Brokerage Software: Our Top 26 Picks for 2023 (+ Pricing).

It’s a Fine Balance & Further Reading

The types of services you choose to offer will ultimately determine the employees you will need to successfully run your real estate brokerage. A common mistake new brokers make is offering too many services when their brokerage is small. This mistake puts too much stress on a young brokerage’s limited staff.

To avoid this misstep, you must find creative ways to provide a full range of services to your agents—all while not breaking the bank. One way to do this is to use software solutions, outsourcing, and then hire employees to manage the remaining tasks.

What mistakes did you make when you set up your first brokerage? Are there any services I might have missed? Let us know in the comment section below.

The post 9 Services Smart Brokerages Are Offering to Attract More Agents appeared first on The Close.